IMS Capital Management Has $618,000 Stake in CDK Global, Inc. (CDK)

IMS Capital Management held its position in CDK Global, Inc. (NASDAQ:CDK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,965 shares of the software maker’s stock at the end of the second quarter. IMS Capital Management’s holdings in CDK Global were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alpha Windward LLC boosted its position in CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock worth $119,000 after buying an additional 864 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after buying an additional 23 shares during the last quarter. Acrospire Investment Management LLC boosted its position in CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock worth $130,000 after buying an additional 300 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its position in CDK Global by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock worth $170,000 after buying an additional 228 shares during the last quarter. 81.37% of the stock is owned by institutional investors.

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Shares of CDK Global, Inc. (NASDAQ:CDK) opened at 62.51 on Thursday. The stock’s 50 day moving average is $63.17 and its 200-day moving average is $63.72. CDK Global, Inc. has a 1-year low of $53.46 and a 1-year high of $67.49. The stock has a market cap of $8.76 billion, a PE ratio of 31.41 and a beta of 0.74.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The firm had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts predict that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 annualized dividend and a yield of 0.90%. CDK Global’s dividend payout ratio (DPR) is currently 28.00%.

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A number of research analysts have weighed in on the stock. BidaskClub cut shares of CDK Global from a “buy” rating to a “hold” rating in a report on Friday, August 4th. TheStreet raised shares of CDK Global from a “d+” rating to a “c” rating in a report on Monday, May 8th. Zacks Investment Research cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Monday, July 10th. Finally, Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CDK Global currently has a consensus rating of “Hold” and an average target price of $71.75.

In other CDK Global news, insider Brian P. Macdonald bought 5,000 shares of the company’s stock in a transaction on Friday, May 26th. The stock was purchased at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the acquisition, the insider now owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

CDK Global Company Profile

CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.